Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 Job 307 Job 308 $ 36,200 $ 42,200 27,200 25,200 17,200 16,200 153,000 92,200 ? Finished (sold) 238,000 $110,000 168,000 123,000 > Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $87,200. b. Raw materials purchases in April are $518,000, and total factory payroll cost in April is $381,000. c. Actual overhead costs incurred in April are indirect materials, $54,500, Indirect labor, $27,500; factory rent, $36,500, factory utilities, $23,500; and factory equipment depreciation, $55,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $653,000 cash in April.